In 2021, the total blocked value of assets in decentralized finance projects exceeded 111 billion dollars, setting an all-time high. The DeFi market grew many times over, and many new and exciting solutions have joined the crypto market. Experts have predicted what is going to happen within the industry in 2022 and what opportunities might be opened for new users.
Reasons for popularity
DeFi is a decentralized, public ecosystem of blockchain-based financial applications and services. It enables almost all services, including lending, deposits, borrowing, and trading within the ecosystem. DeFi’s main goal at their inception was to be able to become an alternative to the banking sector with strong regulation and control.
The appeal of DeFi lies in the system’s democratization, lack of regulation and “manual” decision-making. Other reasons for the growing popularity of decentralized financial projects are anonymity, the speed of transactions, which takes seconds in contrast to hours or days of waiting in a centralized system, and the lack of dependence on various corporate and state adverse events.
The DeFi crypto wallet is a new alternative to traditional finance. Already, the range of services provided in such applications includes lending, loans, insurance, stabelcoins, and decentralized exchanges. DeFi projects are not limited to the Ethereum ecosystem; some are even willing to build a bridge between traditional and decentralized finance. One such comany is Wellfield Technologies.
Who are Wellfield Technologies?
Wellfield was created to open the door to DeFi for ordinary people. The team, made up of PhDs and academics with experience in various computer disciplines, allows the company to choose paths of development that might not even be imagined by competitors. Right now, the company has two brands: MoneyClip and Seamless. If the DeFi protocol, which is a development of Seamless, will be launched only in 2022, the application from MoneyClip will be officially launched in late 2021. Moreover, the beta version is already available in the AppStore and Google Play.
MoneyClip app is probably the missing link that will allow DeFi to take over the world. The main reason this app will be revolutionary, it will give the ability to access DeFi products by simply connecting your bank account to the app. Of course, other companies have tried to develop similar solutions before, but they didn’t get enough publicity or were simply so inconvenient for users that they didn’t gain enough popularity. This is not going to happen with Wellfield’s app.
MoneyClip, has been developing its app since 2019. The app allows users to attach their bank account to a blockchain and enjoy all the features DeFi offers. In the third quarter of 2021, a beta version of the app became available to users, with an official full launch planned for late 2021.